Entry of purchase non itc availed
Querist : Anonymous
i had made sale invoice with 5% vat say
100 goods value
5 vat
total bill amount 105
pls tell me what will be the accounting entry as we not eligible to claim ITC
regds
Sumit
Cash/party name A/c.......Dr.
To vat output A/c
To Sales A/c
Querist : Anonymous
Was pertain to purchase as follow..
Goods value 100
5% Vat 5
Total bill amount 105
since it was sales invoice hence not eligible for ITC. Pls clarify in this scenario what will be accounting entry of this purchase
Input VAT a/c. Dr. ( in current assets) Dr. 5
To Party account Rs. 105
Click here to login now
Similar Resolved Queries
- EPF ECR NEW FILE SEP 17TH 2026
- Utilisation Fy 25-26 TDS challans in Fy 26-27 TDS Return
- Oct 2025 Invoices
- TDS on Fixed Assets purchased
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- Under marginal scheme
- Non filing of I T Returns
- TAX AUDIT ON PROFESSIONAL INCOME
- SECTION 393(3) TAX ON CASH WITHDRAWAL
- Capitalgain tax purposes for valuation report compulsory
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
